Tuesday, June 11, 2019
Corporate Social Responsibility as a Strategy Tool to Increase Research Paper
Corporate Social Responsibility as a Strategy Tool to Increase Shareholder jimmy - Research Paper ExampleThe CSR is defined as actions that corporations engage in to further some social good, and which are beyond the firms interest and are legitimately required. It is also viewed as achieving commercial success through means that honor ethical values and people, communities, as well as the natural environment. In broader terms, the CSR de nones a comprehensive set of policies, programs, and practices that are integrated into the business strategies and decision-making processes and include issues related to governance, human rights, environmental concerns, community investment, business ethics, the marketplace, and the workplace.This concept receives different views from its supporters and detractors. Broadly, those against it, use the chaste economic arguments as put by Milton Friedman that the management should serve to maximize the shareholders profits. This is different from t he CSR practices that serve many stakeholders. The second objection is that business managers are not meant to handle social activities as they lack social skills and should handle financial and operational matters. The third objection is that the engagement in social activities dilutes the businesss primary purpose. On the other hand, the proponents of CSR argue that CSR practices are useful for a business that would want to function in the future since it makes it create a salubrious climate. The next support for CSR is that government regulation is reduced, and the companies have the necessary and adequate resources to fulfill societys expectations of it. Another argument for CSR is that being proactive is demote than being reactive because being proactive helps an organization to plan and is less costly than reacting to social problems after they have occurred.
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